Who Are The Highest Paid Quarterbacks In The NFL? In the eventful year of 2023, the NFL witnessed groundbreaking contract deals that dramatically reshaped the landscape of player salaries across all positions.
Notably, it was the Philadelphia Eagles’ dynamic quarterback, Jalen Hurts, who briefly held the prestigious title of the highest-paid NFL player. However, his reign at the top was short-lived, lasting merely 10 days.
Following Hurts’ record-setting deal, the spotlight shifted to none other than Lamar Jackson, the exceptionally talented quarterback for the Baltimore Ravens.
Just before the highly anticipated 2023 NFL draft, Jackson inked a new contract that shattered the previous record, solidifying his position as one of the league’s most valued players.
Nevertheless, even Lamar Jackson’s record-breaking contract was soon surpassed when the Chargers’ quarterback, Justin Herbert, signed a monumental extension on July 25, 2023.
The ever-increasing financial stakes in professional football were brought to the forefront by these remarkable deals, as top-tier players like Hurts, Jackson, and Herbert command substantial salaries due to their exceptional skills, leadership, and profound impact on their respective teams’ successes.
Here are the ten highest-paid quarterbacks in the National Football League (NFL):
10) Daniel Jones
- Average Annual Salary: $40 Million
On March 7, 2023, Daniel Jones signed a 4-year, $160 million contract with the New York Giants, including a $36 million signing bonus, $92 million guaranteed, and an average annual salary of $40 million.
In 2023, Jones will earn a base salary of $9.5 million, a signing bonus of $36 million, and a workout bonus of $500,000 while carrying a cap hit of $21.75 million and a dead cap value of $82 million.
9) Josh Allen
- Average Annual Salary: $43 Million
On August 6, 2021, Josh Allen signed a 6-year, $258.03 million contract with the Buffalo Bills, including a $16.5 million signing bonus, $150 million guaranteed, and an average annual salary of $43 million.
In 2023, Allen will earn a base salary of $1.08 million, a restructure bonus of $26.42 million, and a workout bonus of $500,000 while carrying a cap hit of $18.63 million and a dead cap value of $117.28 million.
On March 12, 2023, his $26.42 million salary was converted into a signing bonus, clearing $21.13 million of the cap with Buffalo.
8) Patrick Mahomes
- Average Annual Salary: $45 Million
On July 6, 2020, Patrick Mahomes signed a 10-year, $450 million contract with the Kansas City Chiefs, including a $10 million signing bonus, $141.48 million guaranteed, and an average annual salary of $45 million.
In 2023, Mahomes will earn a base salary of $5.5 million, a roster bonus of $22.4 million, a restructure bonus of $12 million, and a workout bonus of $550,000 while carrying a cap hit of $39.69 million and a dead cap value of $134.33 million.
On March 13, 2023, his $12 million of a $34.4 million 2023 roster bonus was converted into a signing bonus, clearing $9.6 million of the cap with Kansas.
7) Deshaun Watson
- Average Annual Salary: $46 Million
On March 18, 2022, Deshaun Watson signed a 5-year $230 million contract extension with Cleveland Browns, including a $44.96 million signing bonus, $230 million guaranteed, and an average annual salary of $46 million.
In 2023, Watson will earn a base salary of $1.08 million and a restructure bonus of $44.92 million while carrying a cap hit of $19.05 million and a dead cap value of $220.05 million.
6) Kyler Murray
- Average Annual Salary: $46.1 Million
On July 21, 2022, Kyler Murray signed a 5-year, $230.5 million contract with the Arizona Cardinals, including a $29.03 million signing bonus, $159.79 million guaranteed, and an average annual salary of $46.1 million.
In 2023, Murray will earn a base salary of $2 million, a signing bonus of $36 million, and a workout bonus of $1 million while carrying a cap hit of $16 million and a dead cap value of $97 million.
5) Russell Wilson
- Average Annual Salary: $48.51 Million
On September 1, 2022, Russell Wilson signed a 5-year, $242.58 million contract with the Denver Broncos, including a $50 million signing bonus, $161 million guaranteed, and an average annual salary of $48.51 million.
In 2023, Wilson will earn a base salary of $8 million and a signing bonus of $20 million while carrying a cap hit of $22 million and a dead cap value of $107 million.
4) Aaron Rodgers
- Average Annual Salary: $50.27 Million
On March 8, 2022, Aaron Rodgers signed a 3-year, $150.81 million contract with the Green Bay Packers, including a $40.8 million signing bonus, $150.81 million guaranteed, and an average annual salary of $50.27 million.
In 2023, Rodgers will earn a base salary of $1.16 million and a workout bonus of $50,000 while carrying a cap hit of $1.21 million and a dead cap value of $59.46 million.
On April 24, 2023, he was traded to the Jets from the Packers with a 2023 1st-round pick (#15 Will McDonald) and a 2023 5th-round pick (#170 – traded) for a 2024 2nd-round pick, a 2023 1st-round pick (#13 Lukas Van Ness), 2023 2nd round pick (#42 Luke Musgrave) and 2023 6th round pick (#207 Anders Carlson).
3) Jalen Hurts
- Average Annual Salary: $51 Million
On April 17, 2023, Jalen Hurts signed a 5-year, $255 million contract with the Philadelphia Eagles, including a $23.29 million signing bonus, $179.39 million guaranteed, and an average annual salary of $51 million.
In 2023, Hurts will earn a base salary of $1.01 million and a signing bonus of $23.29 million while carrying a cap hit of $6.15 million and a dead cap value of $110.48 million.
2) Lamar Jackson
- Average Annual Salary: $52 Million
On April 27, 2023, Lamar Jackson signed a 5-year $260 million contract extension with the Baltimore Ravens, including a $72.5 million signing bonus of $185 million guaranteed and an average annual salary of $52 million.
In 2023, Jackson will earn a base salary of $7.5 million and a signing bonus of $72.5 million while carrying a cap hit of $22.15 million and a dead cap value of $135 million.
1) Justin Herbert
- Average Annual Salary: $52.5 Million
Justin Herbert is the highest-paid quarterback in the NFL.
On July 25, 2023, Justin Herbert signed a 5-year, $262.5 million contract with the Los Angeles Chargers, including a $16.12 million signing bonus, $218.73 million guaranteed, and an average annual salary of $52.5 million.
In 2023, Herbert will earn a base salary of $1.01 million and a signing bonus of $16.12 million while carrying a cap hit of $8.45 million and a dead cap value of $137.96 million.
Conclusion
In this article, we explored the 10 highest-paid quarterbacks in the league in 2023.
From soaring record deals that lasted for mere days to players securing their legacies with groundbreaking contracts just before the draft, the financial landscape of professional football has never been more dynamic.
These quarterbacks have proven their worth not only with their on-field performances but also with the incredible impact they have on their teams and the league as a whole.
As the NFL evolves, so do the salaries of its star players, making each season an exciting journey of anticipation and surprises.
They serve as inspirations to aspiring athletes and fans alike, showing that dreams can indeed become reality with determination and perseverance.
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